Dick’s Sporting Goods: New gun policies haven’t helped, hurt sales

By Christen Smith

Dick’s Sporting Goods faces uncertainty over new gun polices. (Photo: Dick’s Sporting Goods/Facebook)
Dick’s Sporting Goods told investors this week its new firearm policies hurt sales, though top executives appeared to shrug off concerns over the company’s soured relationship with the gun industry.
“Well, we don’t have the best relationship with the firearms manufacturers right now,” said Chief Executive Officer Ed Stack during a conference call Wednesday. The retailer reported first quarter sales ending May 5 declined just under 1 percent over 2017. E-commerce sales spiked 24 percent, prompting the retailer’s share prices to skyrocket 25 percent during trading hours Wednesday.
“This is an exciting time for our Company as we focus on driving executional excellence, delivering an improved shopping experience and differentiating ourselves to create a premier omni-channel experience,” said Lauren R. Hobart, president of Dick’s Sporting Goods. “We continue to see significant opportunity to drive competitive marketplace advantage and win with our athletes longer-term.”
Stack didn’t provide investors with specifics regarding how much gun sales have declined since the retailer became “the corporate face of gun control” in the weeks after the Parkland shooting. The retailer led a wave of corporate activism against the gun industry, voluntarily implementing age restrictions on firearm sales

Source: Guns.com